East Asia and Pacific remains the world’s growth engine despite a challenging external environment, with developing economies growing by 7.2% in 2013. The proportion of people living in poverty in the region has steadily declined—less than 10% of the population lives on $1.25 a day—but much more needs to be done as there are still close to half a billion people living on $2 a day.
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A year ago, the strongest tropical storm ever to make landfall wreaked havoc in the Philippines. A key lesson learned is that having social protection systems in place before disaster strikes can go a long way to mitigate livelihood losses.Read More »